9 Common Student Loan Forgiveness Programs

Student Loan Forgiveness Programs are federal programs that qualified applicants may apply for to have part or all of their student loans canceled (in exchange for service). Typically these services included: military service, volunteer service, and teaching/working within certain communities. Below are examples of Student Loan Forgiveness Programs:

Career-Related Student Loan Forgiveness Programs
There are a few Career-Related Student Loan Forgiveness Programs which will eliminate (or forgive) part of all of you student loans, and there are also some state programs which will do the same. Loan forgiveness and cancellation programs are offered to those who will work a job of “public service” such as, jobs with federal, state, local or tribal government organizations, jobs with non-profit organizations, jobs in public schools and colleges, jobs with public child or family service agencies, jobs in the military and/or serving in a full-time Americorps or Peace Corps position. If you are working a job in the private sector, in the field of emergency management, public safety, law enforcement, etc… you may also qualify for a Student Loan Forgiveness Program. You need to check with your employer to see if they offer loan forgiveness or special repayment options. This is a basic overview of Career-Related Student Loan Forgiveness Programs. As always, you MUST check with your lender for your specific circumstances.

Student Loan Forgiveness For Teachers
Student loan forgiveness for teachers may be available to individuals who teach full time in secondary schools that serve lower-income families. Individuals must have taught for five consecutive, complete academic years in certain schools, and meet the programs additional qualification requirements to be considered for the loan forgiveness. Individuals who meet the requirements for student loan forgiveness for teachers may be eligible for loan forgiveness of up to a combined total of $17,500 in principal and interest on their FFEL and/or Federal Direct Loan program loans. Student loan forgiveness for teachers will not forgive individuals private student loans; the program is for federal student loans only. To qualify for student loan forgiveness for teachers, individuals must not be in default on any FFEL and/or Federal Direct Loan program loans. Individuals seeking student loan forgiveness for teachers, must be currently teaching or have taught at least 5 consecutive academic years at a elementary/secondary school that meets the student loan forgiveness for teachers eligibility requirements found here: studentaid.ed.gov

Nursing Student Loan Forgiveness
The Nursing Student Loan Forgiveness Program is a loan forgiveness program provided by the federal government to help place qualified nurses into non-profit health facilities across the country. In return for working at one of the non-profit facilities, the federal government will forgive a portion of your nursing student loans. The Nursing Student Loan Forgiveness Program works on a two years of service agreement. For two years of service, participants in the Nursing Student Loan Forgiveness Program are eligible to have 60% of their nursing student loans forgiven. In addition to the two-year agreement, there is the option for a possible third year of service resulting in additional nursing student loan forgiveness. Eligibility requirements for the Nursing Student Loan Forgiveness Program are as follows: You must be a US Citizen or legal resident. You must be a licensed nurse, working full-time at a non-profit facility.

Application for entrance into the Nursing Student Loan Forgiveness Program is deadline sensitive, so you will need to make certain you apply before the required deadline. Applications are accepted once per year. The Nursing Student Loan Forgiveness Program does require qualified applicants to complete the two year terms of service outlined within the Nursing Student Loan Forgiveness Program. You may face financial penalties should you neglect to honor your Nursing Student Loan Forgiveness contract. For full details on the Nursing Student Loan Forgiveness Program, you should contact 1-800-221-9393.

AmeriCorps

“A year of service can make a difference—and help with those student loans too.”

AmeriCorps offers an opportunity to serve communities across the country while receiving financial benefits, including student loan forgiveness and a living stipend. By committing to a one-year term of service, participants may be eligible for loan forgiveness under the Segal AmeriCorps Education Award, which can be used to repay qualified federal student loans or fund future educational expenses.

Key Benefits:

• Education Award: Equivalent to the maximum Pell Grant amount for the year of service.
• Interest Payments: AmeriCorps may cover accrued interest on federal student loans for those completing their service term.
• Skills Development: Gain valuable professional and personal skills through hands-on community work.

Eligibility Requirements:

• Must be a U.S. citizen, national, or lawful permanent resident.
• Must complete the required service term successfully to receive benefits.

For more information, call 800-942-2677 or visit americorps.gov.

The Peace Corps

“Make a global impact while tackling your student loan debt.”

The Peace Corps provides opportunities for individuals to serve abroad in international development projects, such as education, business, health, agriculture, and more. Volunteers who commit to the 27-month program may qualify for federal student loan forgiveness or deferral during their service.

Key Benefits:

• Federal Loan Forgiveness: Some federal loans may be forgiven or deferred while serving.
• Professional Experience: Gain valuable international and cross-cultural experience.
• Readjustment Allowance: Receive financial support upon completing your service to help transition back to domestic life.

Eligibility Requirements:

• Must be a U.S. citizen.
• Must meet specific qualifications for your chosen assignment, such as education or technical skills.

For more information, call 800-424-8580 or visit www.peacecorps.gov

Volunteers in Service to America (VISTA)

“Fight poverty, homelessness, and illiteracy—and reduce your student debt in the process.”

VISTA, a program under AmeriCorps, focuses on tackling poverty through community service projects across the United States. Volunteers work in areas such as housing, education, and economic development, and may receive student loan assistance as part of their benefits.

Key Benefits:

• Education Award or Stipend: Choose between the Segal AmeriCorps Education Award for loan repayment or a cash stipend after service.
• Loan Forbearance: Federal student loans can be placed in forbearance during the service term, with interest paid upon completion.
• Professional Development: Build leadership and career skills through impactful community service.

Eligibility Requirements:

• Must be at least 18 years old (no upper age limit).
• Must commit to a full-time service term, typically one year.

For more information, call 800-942-2677

Military Service

“Serve your country, gain valuable skills, and reduce your student loan burden!”

Joining the Army Reserve, National Guard, or other branches of military service can open doors to significant student loan forgiveness opportunities. Various programs are available to help military personnel tackle their student debt while serving their country.

Key Benefits:

• Army Reserve: The Student Loan Repayment Program (SLRP) can repay up to $50,000 of federal loans for qualified enlistees. Eligibility depends on factors like MOS (job specialty) and loan type.
• National Guard: The Guard offers its own version of the SLRP, with potential forgiveness amounts varying by state and specific enlistment terms.
• Post-9/11 GI Bill: In addition to loan repayment programs, service members may also qualify for educational benefits, which can cover tuition and fees.

Pro-tip: Reach out to a military recruiter to explore specific loan forgiveness programs tailored to your branch and enlistment contract.

Eligibility Requirements:

• Loans must be federal (private loans are not eligible).
• You must enlist for a specified period, typically 3-6 years, depending on the program.
• Maintain satisfactory performance and meet other program requirements.

For more information, consult your local military recruiter or visit the official military education benefits page.

National Health Service Corps (NHSC)

“Bring your healthcare skills to underserved communities and wipe out your student loan debt!”

The National Health Service Corps (NHSC) Loan Repayment Program is designed for healthcare professionals committed to improving access to care in medically underserved areas. If you’re a doctor, dentist, nurse, or other eligible health provider, this program can help you reduce your student loans significantly.

Key Benefits:

• Loan Repayment: Up to $50,000 in loan forgiveness for a two-year full-time service commitment. Part-time options are also available with prorated benefits.
• Fields Covered: Includes primary care, mental health, dental care, nursing, and more.
• Additional Support: Participants may also access training, professional development, and relocation assistance in some cases.

Pro-tip: Apply early! The program is competitive, and deadlines are strict. Be sure to gather all required documents ahead of time.

Eligibility Requirements:

• Must be a U.S. citizen or national.
• Hold a valid, unencumbered license to practice in your field.
• Commit to working in an NHSC-approved Health Professional Shortage Area (HPSA).

For detailed program information and application guidelines, visit the nhsc.hrsa.gov

Equal Justice Works

Equal Justice Works provides loan forgiveness opportunities specifically designed for law school graduates who step into public interest or non-profit careers. This program is a lifeline for those pursuing jobs that serve the greater good, such as legal aid, public defense, or advocacy for underprivileged communities.

Here’s how it works: Participating employers or organizations often collaborate with Equal Justice Works to offer loan repayment assistance or other forgiveness benefits. You might also qualify for Public Service Loan Forgiveness (PSLF) through your work, which eliminates remaining federal student loan debt after 120 qualifying payments under an income-driven repayment plan.

Pro-tip: To maximize your benefits, enroll in an income-driven repayment plan (like IBR or PAYE) right after graduation and keep detailed records of your payments and employment!

Eligibility Requirements:

• Be a law school graduate with federal student loans (private loans don’t qualify).
• Work full-time in a public interest or non-profit organization, such as: